Both the GoMs will submit their reports within 15 days, the statement said.

Earlier in the day, the GST Council detailed discussions on the proposal to impose a cess on sugar over and above the five per cent GST considering the sugarcane farmers were in distress with the cost of producing sugar being significantly higher than its market price.

After the meeting, Union Finance Minister Arun Jaitley announced that the Council had decided to set up a group of five ministers within two days to make a recommendation on ways to meet such contingencies where the cost of a commodity is higher than its selling price.

"The committee will examine how these contingencies are to be addressed by the GST regime. Its constitution will be announced in the next two days," he said.

In the meeting, it was also decided to form a separate group of five ministers to consider and give recommendations on a two per cent concession, subject to a ceiling of Rs 100 per transaction, to consumers if they pay through digital modes.